ARTICLE | Company News

Alcon, Nestle S.A., Novartis ophthalmic news

August 23, 2010 7:00 AM UTC

Alcon shareholders conditionally elected directors designated by Novartis to Alcon's board of directors. The election is effective if and when Novartis acquires all of the remaining shares of Alcon currently owned by Nestle. The directors include Enrico Vanni, Norman Walker, Paul Choffat, Urs Baerlocher and Jacque Seydoux. In a statement, Alcon's independent committee of directors estimated that about 91% of minority shareholders voted against the Novartis designees. Earlier this month, proxy advisory services RiskMetrics Group Inc. and Glass Lewis & Co. recommended that Alcon's minority shareholders vote against all five Novartis designees to Alcon's board. ...